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Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017.
	Goodwill		$124,700		Accumulated depreciation-equipment			$292,000
	Payroll taxes payable		177,591		Inventory			239,800
	Bonds payable		300,000		Rent payable (short-term)			45,000
	Discount on bonds payable		15,000		Income taxes payable			98,362
	Cash		365,000		Rent payable (long-term)			480,000
	Land		483,000		Common stock, $1 par value			200,000
	Notes receivable		445,700		Preferred stock, $10 par value			150,000
	Notes payable (to banks)		265,000		Prepaid expenses			87,920
	Accounts payable		490,000		Equipment			1,470,000
	Retained earnings		?		Debt investments (trading)			121,000
	Income taxes receivable		97,630		Accumulated depreciationbuildings			270,200
	Notes payable (long-term)		1,660,000		Building			1,640,000
Instructions
Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same.

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